World demand remains the same. The beans will continue to move to the coast by barge and rail. Ships will continue to be loaded though their destination will change. That will disrupt shipping rates for a short time as distances change. Early beans haven't been planted yet over most of the Northen Hemisphere. If it appears the market will glut, farmers will adjust their planning but land will not lie idle.
XNN

Do you put in early beans and late beans? Around here if it looks like beans are going to be down, you drill milo in the wheat stubble. Most people don't realize that there is no such thing as a soy farmer. You got row crops and adjust to what you think gives you the best chance of a good return.
XNN

So? Soy, like most crop commodities, is fungible. Any country can choose where to buy soy on the world market. Southern Hemisphere soy is coming on the market. In six months it will be Northern Hemisphere. The US, Canada, Europe, and Russia.
XNN

60,000 tons? OMG. The sky is falling! The sky is falling!
Now let's do the math that journalism majors are incapable or unwilling to do. It's simple arithmetic, so feel free to follow along.
1 metric ton of soybeans is ~30 bushels.
60k tons is ~ 1.8M bushels.
A Panamax cargo vessel usually has 7 cargo holds.
Each cargo hold has the capacity of 300k bushels.
China cancels almost (6/7th) of a single ship's worth of soybeans. Not a trade war. Rounding error that might be considered posturing at best.

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About XNavyNuke

Biography:

Ex- Navy Nuke, Ex- University Faculty, Current engineer with a start-up company

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Heirloom tomatoes

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R&D Engineer

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"They sell us the president the same way they sell us our clothes and our cars. They sell us every thing from youth to religion the same time they sell us our wars. I want to know who the men in the shadows are. I want to hear somebody asking them why. They can be counted on to tell us who our enemies are but theyre never the ones to fight or to die." - Jackson Browne Lives In The Balance